Takeover of Twitter by Elon Musk: his abandonment is “unjustified”

DIn an open letter published on Monday July 11, Twitter claims that Elon Musk’s abandonment of his plan to buy the platform for $ 44 billion is “invalid and unjustified” and claims to have fulfilled all the obligations provided for in the agreement concluded in April. The social network therefore requires that the multi-billionaire, who accuses Twitter of not responding to the terms of the agreement, in particular by not transmitting all the information on the false accounts, to keep its commitment.

For his part, the boss of Tesla shared his first reaction on Twitter by posting an image containing several photos where he appears hilarious. “They said I couldn’t buy Twitter. Then they refused to reveal the fake account information. Now they want to force me to take over Twitter in court. Now they are forced to reveal the fake account information,” reads alongside each snap.

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Twitter stock plummets

Twitter’s stock plummeted 11.3% on Wall Street on Monday. The title of the company ended at 32.65 dollars on the New York Stock Exchange, 40% less than what the multi-billionaire had offered when he announced his intention to get his hands on Twitter in mid-April. The board of directors of the social network, which initially had no plans to sell at all, accepted his offer a few days later.

But after several months of twists and turns, Elon Musk said Friday in a letter to Twitter that he was ending this agreement, believing that the company had not respected its commitments by not communicating the share of fake accounts and Spam. Twitter claims that the number of inauthentic accounts on its platform is less than 5%, a figure disputed by the multi-billionaire who considers it much higher.

READ ALSOElon Musk takes over Twitter: ‘I hope my worst critics stay’

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